NEW DELHI, May 19 (ANI): Experts on Tuesday described the US Department of Justice’s decision to permanently dismiss alleged criminal fraud charges against industrialist Gautam Adani and his nephew Sagar Adani as a major positive development that could strengthen investor confidence and accelerate the Adani Group’s global expansion plans.
Vineet Nahata, Director at Power Gilt Treasuries, said Indian stock markets responded positively to the development.
“This is a very positive move. Our stock markets, too, have given it a green signal,” Nahata said.
He added that the development would help address concerns raised by foreign institutional investors regarding corporate governance and financial transparency in Indian companies.
“The fact that Adani has received a clean chit serves as a major confidence booster and will prove highly instrumental in rebuilding trust,” he said.
Raian Karanjawala, Managing Partner at Karanjawala & Company, said the decision was significant both for the Adani Group and for India’s broader business environment.
“For the Adanis, it is a clean chit and a clean slate from which they can continue their business,” he said, adding that the group is now likely to move “full throttle” to expand operations and recover lost time.
Karanjawala said the outcome reinforced Adani’s long-standing claim of innocence and removed a major overhang affecting international business sentiment.
“Even from the country’s perspective, it is a positive development because when one of the richest businessmen in the region is facing charges internationally, it naturally impacts business confidence,” he added.
Political analyst Prof. Sangit Kumar Ragi alleged that the case lacked substantive evidence and was part of a broader attempt to damage the Adani Group’s credibility.
“There is no evidence that the Adani Group paid any bribes in India,” he said, claiming that certain international and domestic interests sought to undermine India’s corporate growth story.
Advocate Sonam Chandwani said the case highlights the importance of strong compliance and disclosure standards for Indian companies operating internationally.
“It is a message for Indian companies that they need to be very clear about compliance disclosures and international business relations,” Chandwani said, noting that such cases can significantly impact market sentiment and corporate reputation.
She also said that any investigation by India’s market regulator would need to proceed independently.
“The Securities and Exchange Board of India cannot simply rely on the findings of US authorities and would need to conduct its own investigation,” she added.
According to reports, the US Department of Justice filed a request in court seeking permanent dismissal of all alleged criminal fraud charges against Gautam and Sagar Adani, effectively ending the prosecution.
The case had stemmed from allegations by the US Securities and Exchange Commission that Gautam Adani, Sagar Adani, and others were involved in an alleged bribery scheme linked to solar energy contracts in India between 2020 and 2024.
Earlier, the US District Court for the Eastern District of New York had accepted a plea filed by counsel for Gautam and Sagar Adani seeking dismissal of the case.
Media reports said the Adani Group had also pledged investments worth USD 10 billion in the United States.
According to reports, the proposed settlement in the related civil case did not include any admission of guilt. (ANI)
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